A well-educated lumberjack decides to use linear regression to predict the demand for firewood based on the ambient temperature.He has collected data on firewood sales and temperature for the last several days and has performed some preliminary calculations as shown in the table.What is his regression equation based on the data?
A)Ricks = 50.6 - 0.93 x Temp
B)Temp = 53.3 - 1.0 x Ricks
C)Ricks = 0.93 - 50.6 x Temp
D)Temp = 1.0 - 53.3 x Ricks

Question

A well-educated lumberjack decides to use linear regression to predict the demand for firewood based on the ambient temperature.He has collected data on firewood sales and temperature for the last several days and has performed some preliminary calculations as shown in the table.What is his regression equation based on the data? 
A)Ricks = 50.6 - 0.93 x Temp 
B)Temp = 53.3 - 1.0 x Ricks 
C)Ricks = 0.93 - 50.6 x Temp 
D)Temp = 1.0 - 53.3 x Ricks

Quizplus · Accepted Answer

The regression equation based on the data is in the form of Y = a + bX, where Y is the demand for firewood (called "Ricks" in this case) and X is the ambient temperature. Based on the preliminary calculations shown in the table, the slope of the line (or b value) is -0.93 and the y-intercept (or a value) is 50.6. Therefore, the regression equation is: Ricks = 50.6 - 0.93 x Temp.

A Well-Educated Lumberjack Decides to Use Linear Regression to Predict